Quite a similar setup as shown on the eurusd 4 hour chart.
On this eurgbp 4 hour chart we are at a zone for profit taking.
This is a strong area of previous support and I do expect that this level will attract some buyers.
On the number three on the chart I changed my view from bullish to bearish when the lower high was provided.
Therefore now I am only interested in going short and want to to so after a bullish retracement to get more pips from my analysis.
If price moves towards number five then I want to short with an overbought stochastic indicator.
To make good use from our indicators you preferably want to trade whenever possible in direction of the 5/8 moving averages, in direction of stochastik and in direction of price action.
I wish you the BEST OF PIPS